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FACTORS TO WATCH
12:00 pm: Government to release September wholesale price inflation data in
3:00 pm: Trade Minister Nirmala Sitharaman interacts with media in New
5:00 pm: RBI to release weekly foreign exchange data in Mumbai.
LIVECHAT - THE WEEKAHEAD with Reuters markets editor Mike Dolan
Join Mike as he goes through the key macroeconomic and political themes for
the coming week at 1630 IST. To join the conversation, click on the link: here
INDIA TOP NEWS
Indian inflation cools to one-year low, offers room for more rate cuts
India's retail inflation cooled to a 13-month low in September, helped by
moderating food prices, giving room for the central bank to cut interest rates
again if needed.
India c.bank chief warns of risks from Brexit, U.S. elections
India and fellow BRICS countries need to be prepared to confront potential
"political risk" events such as Britain's exit from the European Union and the
U.S. presidential elections, Reserve Bank of India Governor Urjit Patel warned
Tata Consultancy expects to fare better in next two quarters after sales
Indian IT outsourcing group Tata Consultancy Services Ltd said its next two
quarters will be better after clients held back on spending in the three months
South Asian tensions seen dominating Indian BRICS summit
India will take its drive to isolate Pakistan and rally the international
community against cross-border militancy to a summit of emerging market powers
this weekend, when it hosts BRICS nations in the western state of Goa.
India Fin Min warns against growing protectionism
India's finance minister warned on Thursday against the dangers of
protectionist tendencies in developed economies spreading to other parts of the
world and hurting global growth.
India may seek $7.5 billion in extra spending to spur growth
India may seek parliamentary approval to spend about $7.5 billion more on
roads, railways and other public programmes over the next five months, two
government sources said, as Prime Minister Narendra Modi looks to spur growth
and create jobs.
Rosneft, Trafigura and UCP to buy India refiner for $12-$13
A group led by Russian oil major Rosneft will acquire India's Essar Oil in a
$12-$13 billion deal including debt, two sources privy to the deal said, giving
the Kremlin access to the South Asian nation's growing fuel market.
Russia and India to sign delivery deal for S-400 missiles on Saturday
Russia and India will sign an agreement on Saturday for Moscow to deliver
S-400 surface-to-air missiles to New Delhi, a Kremlin aide said on Thursday.
GLOBAL TOP NEWS
China September producer prices rise for first time in nearly 5 years
China's producer prices unexpectedly rose in September for the first time in
nearly five years thanks to stronger commodity prices, welcome news for the
government as it struggles to whittle down a growing mountain of corporate debt.
Samsung flags $5.3 billion profit hit from Note 7 failure
Samsung Electronics Co Ltd said it expected to take a hit to its operating
profit of about $3 billion over the next two quarters due to the discontinuation
of its fire-prone Galaxy Note 7 smartphone.
Saudi Arabia, SoftBank plan $100 billion tech fund - one of the world's
Saudi Arabia and Japan's SoftBank Group said they will create a technology
investment fund that could grow as large as $100 billion, aiming to create one
of the world's largest private equity funds.
LOCAL MARKETS OUTLOOK
(As reported by NewsRise)
The SGX Nifty Futures were trading at 8,596.50, trading up 0.24 pct from
its previous close.
The Indian rupee will likely open higher against the dollar, tracking a
recovery across Asian assets as better-than-expected economic data out of China
propped up risk appetite.
Indian government bonds are likely to gain in early session, after
domestic retail inflation in September rose at the slowest pace in more than a
year, giving room to the nation's central bank for further interest rate cut.
The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in
a 6.98 pct - 6.74 pct band.
U.S. stocks slipped on Thursday led by falls in financial shares and
following weak Chinese economic data but a late-day rebound in oil prices
limited the day's decline.
Asian stocks and the dollar bounced on Friday, erasing some losses from
the previous day, as stronger-than-expected Chinese inflation data eased some
concerns about the health of world's second-biggest economy.
The dollar held below this week's highs but is still on track for a weekly
gain, as investors awaited U.S. retail sales data and remarks from Federal
Reserve officials that could cement expectations of a U.S. interest rate hike
U.S. Treasury prices rose on Thursday as weak Chinese data pushed
investors to buy safe-haven government debt after two straight days of selling.
Oil prices edged up, pushed by a tighter U.S. fuel market and as technical
indicators attracted buying from financial players.
Gold prices edged lower in Asian trade as stocks firmed and the U.S.
dollar rose on expectations the Federal Reserve would raise interest rates by
CLOSE FII INVESTMENTS EQUITIES DEBT
PNDF spot 66.78/66.81 October 13 -$137 mln -$273.72 mln
10-yr bond yield 6.89 pct Month-to-date $181.66 mln -$909.06 mln
Year-to-date $7.69 bln -$874.42 mln
For additional data:
India govt bond market volumes
Stock market reports
Non-deliverable forwards data
Corporate debt stories [IN CORPD]
Local market closing/intraday levels [IN SNAPSHOT]
Monthly inflows [INFLOWS RTRS TABLE IN]
($1 = 66.93 Indian rupees)
(Compiled by Sai Sharanya Khosla in Bengaluru)